Setting Prices Higher Than the Competition Can Help Create an Image

question 53

True/False

Setting prices higher than the competition can help create an image of quality.

---

Definitions:

Ethical Problems

Moral dilemmas or issues arising in a situation where a decision about right and wrong must be made.

Personal Conscience

An individual's internal sense of right and wrong that guides their behavior and moral decisions.

Social Norms

Unwritten rules that govern the behavior of individuals within a society or group.

Ethical Universalism

The philosophical view that certain ethical standards are universally applicable to all individuals, regardless of culture, race, sex, religion, nationality, sexuality, or any other distinguishing feature.